I came across these new ways of borrowing and lending money online via Prosper and Zopa from John Devadoss's blog. It's the perfect example of my theory of "It's the end of the Enterprise as we know it". Just a quick glance at any young 'User Experience Generation' person, you get the impression that they're much more likely to do banking online and borrow their first mortgage via the cyberspace than visiting their local bank branch manager speaking to a middle-aged man in a suit (and putting on a suit themselves).
And hey! Who can resist getting free champagne and free chicken for doing borrowing/lending online via Zopa!
Now, I'm one that's keenly watching to see which established banks have enough foresight to anticipate the Web 2.0 wave that is above to hit them, and hey did the newspaper giants ever think that the Web was to take over their business or dramatically change their business model? and did the big media conglomerate ever think Google was going to gobble up a big chunk of their advertising revenue?
If I was a banker, I'd be on red alert!